Bluestone Mortgages cuts resi and BTL rates by up to 70bps – Mortgage Strategy
Bluestone Mortgages has cut rates across its fixed-rate residential and buy-to-let loans.
The specialist lender has reduced rates by up to 70 basis points across its residential two- and five-year fixed-rate product range.
These reductions apply across the firm’s standard and fees-free loans.
Across its standard and fees-free BTL range, two-year fixed rates have been lowered by up to 64bps.
The business focuses on complex loans, including those with impaired credit histories.
Its move comes after the Bank of England lifted the base rate by 50 basis points to 4% last week, a 14-year high, and while inflation stands at 10.5%, more than five times higher than the central bank’s 2% target.
Bluestone Mortgages sales & marketing director Reece Beddall says: “As climbing interest rates continue to put further financial pressures on households across the country, we, at Bluestone, remain committed to providing solutions to brokers and their customers amid this inflationary environment.
“Today’s rate reduction is further testament to this, and we hope that it will provide vital support to those underserved customers looking to make their homeownership dreams come true.”